In 2017, Randa Merchandising, Inc., sold its interest in a chain of wholesale outlets, taking the company completely out of the wholesaling business. The company still operates its retail outlets. A listing of the major sections of an income statement follows: Debit Credit $2,800,000 260,000 Item 1. Net sales 2. Gain on state's condemnation of company property, net of tax 3. Cost of goods sold 4. Income taxes expense 5. Depreciation expense 6. Gain on sale of wholesale business segment, net of tax 7. Loss from operating wholesale business segment, net of tax 8. Loss of assets from meteor strike, net of tax $1,428,966 210,000 230,000 792,500 458,000 664,000 3 Prepare the income statement for calendar year 2017. (Loss amounts should be indicated with a minus sign.) nces RANDA MERCHANDISING, INC. Income Statement For Year Ended December 31, 2017 Net sales Expenses: Total operating expenses Other unusual and/or infrequent gains (losses) mework Seved Help Prepare the income statement for calendar year 2017. (Loss amounts should be indicated with a minus sign.) RANDA MERCHANDISING, INC. Income Statement For Year Ended December 31, 2017 Net sales Expenses: Total operating expenses Other unusual and/or infrequent gains (losses) Discontinued segment